“I lost $256,000 in a day”. Jonas Gjelstad – Professional Sports Bettor

Sports Betting

So, starting the year 2016, I’ve now made a million dollars, betting on sports in the Asian markets. I’Ve had like the best month in October. I topped it in November.

I topped it in December and I felt like well, you know, there’s nothing that can knock me down this. I know I’ve solved this now. Everything is great. The amount of bets I’m having like over 3,000 bets a month and everything is just like amazing. I turned 10k into a bit over a million dollars.

My name is Jonas Gjestad and I’m a sports bettor previous poker player, basically trying to figure out what I want in life. So in January I bet for 4.4 million dollars and I made 357 K dollars, but I want to show you something that happened on the last day of January. That’S sort of like set me a bit back. This is my month, like just the full month of January, So bet for 4.5 million dollars profited 326,000 with 7.75 percent, which I’m really happy about, But the night before the last day I was up 581,000 dollars and I almost run a 16 percent ROI and then The last day I lose two 256,000 dollars in one day, so coming off that last day of January, I started February, which is also a pretty big month. I bet for over 4 million dollars and I lose 347,000 dollars, which is almost 10 percent on average per bet, but, as you can see, also the numbers of bet I had in it’s only 1,200 compared to all the months where I’ve been rolling at, like 3.5 K over 2k 2.5 K, so again it’s going to be higher variance and higher bets. This is something where I think I did a mistake.

I think I should have maybe being a bit more cautious and you can see that the next month I decided like well, you know what like I actually need to step down. So I realized that next month, so I placed 776 bets and I bet 1.5 million dollars and I had another loosing month I lost 110k, which is almost 8 % per bet. Obviously, during this period I know like I was extremely unfortunate, but at the same time also, you see, like I’ve, showed you earlier. I had months where I was running above about like 10 % and it’s sort of it evens out in the long run, which is the most important thing to think about, and this is what separates like the good from the bad people. Everyone is good and everyone is happy and everyone thinks they’re flawless when things are going good.

But when you go bad, that’s when you can actually learn from your mistakes and that’s when you need to put in the hard work going on from there. You can see. I lost 110K, then I started off April winning some and I upped my bets from 1.5 million to 3.3 million, and I made over 2k bets and I made 90 K with like a 3 % ROI, which again then it’s like sort of feeling like now.

I’M back at it. This is good and then in May last games of the season betting, four million, making 327 K with almost 99 %, felt just great going into the summer like that, and then euros were going to start, and I was feeling good about it because I can’t just Sit there and think like. Oh, I lost 256,000 dollars in a day. What, if that’s going to continue happening, because I know like you can go the other way around so obviously made me a bit more aware that I need to think about the amount, I’m betting per game, and if I want to have these swings, because now I’m Starting to get to a point where I’m quite comfortable with my living – and you know it’s much more important – to have 1 million than to have 1.5 million or 500 K. So you rather want to lower the swings and have like, let’s say, 75 percent chance of reaching 1.250 million dollars and a 25 % chance of going down to $ 50,000, because it’s actually significant money.

But you can invest and sort of get a long-term passive income. On and if you invest in real estate – or you know, like they’re, safer investment than sports betting Sports betting, I think is by far my highest return of investment, and I can flip my money over so many times and still have like over 3 percent return. On. My money for every 90-minute investment, which is like beyond crazy, like when I tell it to people that are involved in other type of like, let’s say stocks or anything like that.

They don’t believe it. It’S like it’s too good to be true, but it’s all about them being on the right side and knowing what you’re doing cause, if you don’t, then you’re losing.